[UK] PwC set to cut around 600 jobs

A source has revealed that "Big Four" accounting company PricewaterhouseCoopers (PwC) intends to cut around 600 UK jobs, Reuters reports.

In an emailed statement to Reuters, PwC said, "In light of lower than normal attrition rates and subdued growth in parts of the business, we are making targeted voluntary severance offers to some of our people." It did not disclose the number of employees that would be affected by the move.

According to a November 6 report from the Financial Times, PwC would launch a voluntary redundancy programme but cut jobs on a compulsory basis if too few people opt to leave.

The job cuts will primarily be directed at PwC's advisory business and a small number in the tax department, the report said - citing people familiar with the matter - and added that the audit division would not be affected.

In October, Reuters reported that KPMG - another 'Big Four' accounting firm - was planning to cut about 100 jobs from its deal advisory business in the UK. In addition, Deloitte intends to cut more than 800 UK jobs.

A number of businesses have recently reduced their workforce in anticipation of a likely economic slowdown later this year.

Source: Reuters

(Quote and links via original reporting)

A source has revealed that "Big Four" accounting company PricewaterhouseCoopers (PwC) intends to cut around 600 UK jobs, Reuters reports.

In an emailed statement to Reuters, PwC said, "In light of lower than normal attrition rates and subdued growth in parts of the business, we are making targeted voluntary severance offers to some of our people." It did not disclose the number of employees that would be affected by the move.

According to a November 6 report from the Financial Times, PwC would launch a voluntary redundancy programme but cut jobs on a compulsory basis if too few people opt to leave.

The job cuts will primarily be directed at PwC's advisory business and a small number in the tax department, the report said - citing people familiar with the matter - and added that the audit division would not be affected.

In October, Reuters reported that KPMG - another 'Big Four' accounting firm - was planning to cut about 100 jobs from its deal advisory business in the UK. In addition, Deloitte intends to cut more than 800 UK jobs.

A number of businesses have recently reduced their workforce in anticipation of a likely economic slowdown later this year.

Source: Reuters

(Quote and links via original reporting)